Classify the following balance sheet items as current or noncurrent: Retained earnings Bonds payable Accounts payable Accrued

Question:

Classify the following items as current or noncurrent:
Retained earnings Bonds payable
Accounts payable Accrued wages payable
Prepaid expenses Accounts receivable
Plant and equipment Capital in excess of par
Inventory Preferred stock
Common stock Marketable securities

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...